COMPANY REGISTRATION NUMBER: N1622198 CHARITY REGISTRATION NUMBER: 100154 Hope and a Future Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 D C CORR AND COMPANY Chartered accountants 29B Main street Randalstown County Antrtm BT413AB Hope and a Future Company Limited by Guarantee Financial Ststements Year ended 31 March 2023 Page Directors, annual report (incorporating the directorfs report) Independent examiners report to the directors Statement of financial acts'vities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements 10 Hope and a Future Company Limited by Guarantee Directors, Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2023 The dlrectors, wtto are also the directors for the purposes of company law. present their report and the unaudited financial statements of the eharlty for the year ended 31 March 2023. Reference and administrative details Registered charity name Hope and a Future Charity registration number 100154 Company registration number N1622198 Principal office and registered 7 New Street office Randalstown County Antrim BT413AF The directors Mrs C Keenan Mr W Pollock Independent examiner Dennot C 2gB Main Stroot Randalstown County Antrim BT413AB Structur8, govemanc8 and management Hope and a Future is a ¢ompany limited by guarantee and as such it does not have Sha￿ capital. Every director being a member of the Executive Committee undertakes to contribute to the assets of the Company, in the event of the same being wound up vthile he 1$ a member, or vAthin one year after he Geases to be a member, for payment of debts and liabilities of the Company GontraGted before he ceases to be a member, and of the costs, charges and expenses of win¢Jing up, and for the adjustment of rights of the contribLrtors among themselves. such amount as may be required not exceeding £1.00. The Company is registered with HM Revenue and Customs as a charitable b¢)dy for taxation purposes IHMRC Charity Number XT79101. The Company was incorporated on 8 January 2014 and its governing instruments are the Memorandum and ArbGles of Association. The address of the Company's Registered Office, vthich is also its pnncipal address. is shoTrhn on page 1. Hope and a Future Company Limited by Guarantee Directors. Annual Report (Incorporating the Directorfs Report) (conlinuerfj Year ended 31 March 2023 ObJe￿iveS and activities Hope and a Future is a small Northem Ireland charity based in Randalstown, County Antrim. The charity was initiated by local couple Kevin and Christine Keenan following a irip to the town of Shagh@menÈ in thÉ SOLrth of Ethiopia in 2006. ThÈy wÈrÈ moved by the high level of povety and the lack of education for some of the poorest child￿n. Many ol these children worked from as young as 5-6 years of age or made a Itving by begging on the streets. The Hope and a Future Charity vlas fomied in 2007 and is overseen by a committee of local people from Randaltstown and Antrim. The initial aim at the start wa8 to provide education for some of the poorest children in the town of Shashemene in South Ethiopia, 250 knis from Addis Ababa. From a very Small beginning of a small rented building wtlh 150 children tha charity has grown ovar the past 12 year5 to Ihe extent that in 2019 support was being provided for two schools Wlth up to 500 children. The first school was purpose built and provides education for children 8yrs to 16yrs. This school is called "School for Humanity" and currently provides education for up to 400 children. The second school is called Tesfa had around 100 children attending of age &7 year5. The decision was madÈ to c@agÉ the second school in June 201g and the children would be transferred into the first 3chool 85 places became available. From September 2019 the Charity was maintaining the School for Humanty 400 children. All Children wère provided with seh¢Xsl unrfoms and for many of the thildren it is their main item.s nf clothing. Each child receives a nourishing meal each day which greatly helps the health of the children but this also presents a Ghallenge due to increasing costs of foo(Istuffs Children also are provlded with new shoes when required ag well as medical treatment when necessary. All teachers and support staff are employed from the local area and the charity up to June 2020 were employing more than 50 50 staff as teachers, cooks, cleaners, admin, sto￿$ and management. In 2015 the Hope and a Futurè charTty bggan to plan towards building a Therapeuti¢ Centre for children with a Disability and a Youth Centre in Shashemene. At that time there was very little provision for children with a Disability many of these children living in isolation in their shack houses. They have no access to education, therapeutic intorventions, healthcare or opportunities for socialisation with Iheii peers. Construction of this new building was Gompleted in 2019 From 201S the Charity bÈgan to g2thÈr Disability equipment into store faciltltes connected to the Charity shop outl¢ts the aim of sending a Sea Container loaded with this equipment from N. l. into Ethiopia an(J on to the new building in Shashemene. Airangertierit wab niade foi ilie Container lo leave N. l. in September 2019. laden wth the equipment which had been gathered up over the previous years. The container arrived at rts dostination in Ethiopia in November 2019. In the years trom the beginning of the Chanty, teams of volunteers from N. Ireland have travelled to Ethiopia lo provide dI￿¢t support 2nd encouragement for all ongoing projects. These trips are generally 10 to 14 days duralion. There have been no trips since early 2020 mainly due to Covid and related effects on air travel and risk to personal welfare. Hope and a Future Company Limited by Guarantee Directors. Annual Report (Incorporating the Directorfs Report) {¢ofttinuedJ Year ended 31 March 2023 Achlevements and perforniance In September 2019 the￿ was a fomal opening of the new Youth Centre in Ethiopi8, attended by Loc81 Authority including the Mayor and also representatives from N. Ireland The Youth centre on the upper floor would provide local children with somewhere to meet and socialise. They would have access to a library and a place to study and Gomplete homework. During 2019, due to increasing expense of Maintaining the sch¢Jol vthh rising costs for food, salaries etc, there were delays in achieving full operation of the Disabilty Centre and YoLrth CÈntrÈ. At thig timÈ thè Charty commit￿ wÈr@ looking at ways to reduce the financial burden. The financial situation intensified in March 2020 when Coronavirus came into N. Ireland bringing the first Lockdovm when our shops had to close and the main source of income ceased. By June 2020 any rcscTve financc was depleted and decision was made to teminate our finance input to the School for Humanity and to the Disability and Youth Centre. At Ihis time the Charity was stiii in Lock¢Jown with no income and no reserve finance to maintain Projects_ Letters were written to Alrthorities in Ethiopia explaining the Charity positson and giving the Projects over to their administration. Following the first Lockdo4￿ the Charty shops reopened in July 2020 and income began to be restored but still with limitations due to the ongoing Covid 19 Pandemi¢. In July 2020, thi8 Charity began to send finance 5UPPOrt to two smaller Schools in the same region Df Ethiopia.. The Chatity finance position remained very low during the Covid threat in the county and there was a second Lockdown from Dec 2020 til April 2021.our shops were closed for this time. Following the second Covicl lockdown our shops reopened In Aprll 2021 and began to reslore Income for Charity funds. In the months following Charity support was restored to the School for Humanity and also support continued for kn smaller schools. School for Humanty has 400 children and the othgr school each have 200 children so in total our Charrty 15 providing education for 800 Children and salaries for more than 50 staff across the three schools. Since the summer of 2021, thanks to steady In￿Me from our Charty shops, we have gradually increased our finance payments to the schools in Elhiopia. We also support a Deaf community of around 40 families with monthly finance as their disabilty limits their èmployment potential. We also support a communty of people whose adults have leprosy, supporting an Agriculture programme to 8.ncourage sew sufficiency in the fiJtU￿ Thp_ npAf grnijp 2nd Loprosy gmup livÈ in thÈ 38me region 89 our schools in Ethiopia. In addrtion to our prqects in Ethiopia. the Chanty also aims to support small l¢xal needs in our local Area of N. Ireland. This includes single parent families. migrant families, people on low incomes and others with disability, addictions andlor mental heath issues. At present time the Charty may 3UPPOrt people expenencing stress due to National economic downtum. Our Charity shops have become popular goci21 IocAtions where people find fn'endship and encouragement. Our Charity shops serve mainly Randalstovm and Antrim and surrounding regions. Many of our volunteer staff speak of the personal benefit of engaging in worthwhile V￿rk and escape from isolation and loneliness. We also en¢oLirage involvement of people vtho may have disabilty or mental health issues 2nd this is therapeutic for individual health Hope and a Future Company Limited by Guarantee Directors. Annual Report (Incorporating the Directorfs Report) (cofttlnuedj Year ended 31 March 2023 Flnanclal review Both the level of activities and the year end financial position We￿ considered satisfactory. The direGtor5 expect that In￿Me lo increase in the year to 31 March 2023 and this wlll be malntalned for the foreseeable future. The Statement of Financial Adivitses shows a net increase in Unrestricted Funds of £21,040 and a no change to the Resln"rted Funds. The Company had Total Charity Funds of £156,928 at 31 March 2023. Small company provislons Thi8 report has been prepared in accordance wth the provisions applicable to companies entitied to tli¢ stnall wmpanie5 exemption. The directors, annual report was approved on 14 December 2023 and signed on behalf of the board of trustees by.. Mrs C Keenan Director Hope and a Future Company Limited by Guarantee Independent Examinerfs Report to the Directors of Hope and a Future Year ended 31 March 2023 l ￿pOrt to the directors on my examinats.on of the financial statements of Hope and a Future ('the charity.) for the year Ènded 31 March 2023. Responsibilities and basis of report As the diredors of thè company (and also ils diro¢tors for the purposes of company law) you are responsible for the preparation of the finanaal statements in accordance with the requirements of Charities Act (Northem Ireland) 2008 lthe '2008 Act,) and the Companies Act 2006 (the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself thal the accounts of the company are not required to be audtied under Part 16 of the 2006 Act and are eligible for independent examination. I repert in re8pect of my examination of the charity's financial statement5 as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northem Ireland under section 65{9){b) of the 2008 ACL Independent examinefs statement Since the chaiity'3 gro83 income exGeeded £250,000 your examiner mugt be a member of a body lisled in section 65 of the 2008 Act. I confimi that l am qualffied to undertake the examination because l am a member of Chartered Accountants Irei8nd. which is one of the listed bodies. I have Gompleted my examination. I confirm that no matters have Gome to my attention in Gonnedion V￿h my examinats.on giving me cause to Delieve that In any matenal respea: ac¢ounting re￿rdS V￿r9 not kept in rospoct of th• charity a$ raquired by section 386 of the 2006 Act, or the financial statements do not accord wtth those records: or the financial siatements do not compty with the accountlng requlrements of sectlon 396 of the 2006 Act other than Sny requirement that the accounts give a Xrue and fai￿ view which is not a matter considered as part of an independent cxamination; or the financial statements have not been prepared in accordance V￿th the methods and principles of the Statement of Recommended Practice for aeeounting and reporting by charitses applicable to charities preparing their accounts in accordance with the Financial Reporting Standar(l applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accDunt5 to be reached. Demiot Corr Independent Examiner 296 Main street Randalstown County Antrim 8T413AB Hope and a Future Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted nds Total funds Total fvnds 2022 Unrestricted nds Income and endowments Donations and legacies Other trading aGtivitie5 Totsl inGom• 3.096 319,3￿0 3.096 319,350 15,197 243,379 322,446 322,446 Expenditure Expendtture on charitable activities 301.406 301.406 233.460 Total expenditure 301.4( 301,406 233.460 Net income and net movement in funds 21,040 21.040 25,116 Reconciliation of funds Total fiJnds brought foward Total funds carried forward 127.820 8.068 135.888 110.772 148.860 8,068 156.928 135,888 The slatement of financial activities includes all gains and losses recognised in the year. All income and expenditure deri¥e from continuing activities. Thg notes on pages 10 to 17 forni part of these Ilnancial statements. Hope and a Future Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 NotÈ Fixed assets Tangible fixed assets 13 146,216 155,425 Current assets Stocks Debtors Cash at bank and in hand 14 1S 1.230 4.941 63,982 70,153 1,840 19,726 44.436 66,002 Creditors: amounts falling due within one year Not currant assets 16 29.935 39,081 26.921 40.218 Total assets less current liabilities 186,434 182,346 Creditors: amounts falling due after more than one year 17 29.506 46.458 Not ass•ts 156.928 135.888 Funds of the charity Restricted funds Unrestricted funds 8,068 148.860 8,068 127,820 Total charity funds 18 156.928 135.888 For the year ending 31 March 2023 the charity was entitled to exempts'on from audit under section 477 of the Companies Act 2006 relaling to small companies. Directors, responsibilities.. The membets have not required the company to obtain an audit of its financial statements for the year in quesb.on in accordanc& with section 476" The directors acknowledge their responsibilities for complying with the requirements ot the Act th respect to accounting records and the preparation of financial statements. These financial 5tatemerrt5 have been prepared in aGcordanGe with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. ThÈ natÈ* on pagè# 10 to 17 fomi part of these financial stat2mpnts. Hope and a Future Company Limited by Guarantse Statement of Financial Position (conthued) 31 March 2023 These finandal statements were approved by the board of trustees and authorised for issue on 14 rJecemb@r 20?3. and arÈ signÈd on behalf of the board by". Mrs C Keenan Director The notes on pages 10 to 17 forni part of thÈse financial statements. Hope and a Future Company Limited by Guarantee ststement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operating activities Net income 21,040 25,116 Adjustments for Depreciation of tangible fixed assets Accrued expenses 10,834 S53 10,712 Changes in." stocks Trade and other debtors Trade end other creditors 610 14,785 (9,699) 38,123 110 (4.863) 8,499 Cash generated frotn operations Net cash from operating aclivitie5 39,574 38,123 39,574 Cash flows from investing activiti8S Purchase of tangible assets Net Gash used in investing activilÈes (1,62S} (1,625} ash flows from financing actr'viti"es Proceeds from borrowngs Net CAgh used in financing 3¢tivities {16.952 {15,078) {16.952) {15.078) Net increase in ¢agh and ¢a$h equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 19,546 44,436 24,496 19,940 63,982 44,436 The nolÈs on pagÈA 10 to 17 fomi part of thÈsÈ financial ststèmèntA. Hope and a Future Company Limitsd by Guarantse Notes to the Financial Ststements Year ended 31 March 2023 Generdl infomiation The charity is a public benefft entty and a private company limited by guarantee. registered in Northem Ireland and a registered charity in Northem Ireland. The address of the registered office is 7 New Street. Randalstown, County Antrim. BT413AF. Statement of compliance These financial statements have been prepared in Complian￿ v￿th FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charilies preparing their accounts in a¢cordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities SORP {FRS 1021) and the Companies Act 2006. Accounts"ng policies Ba818 of preparation The financial statements have been prepared on the historical cost basis. as modffied by the revaluation of Certain financial assets and liabilities and investment properties measured at fair value through income or expendilure. The financi31 statements are P￿pAred in &t@ding. which is the functional currency of the entity. Goli19 con¢em There are no material uncertainties aboui the charity's ability to continue. Judgements and key sources of estimation un¢ertainty The preparation of the financial statements requires management to make judgements. estimates end assumptions that affect the amounts reported. These estimates and judgements are conlinually reviewe(i and are based on experience and other factors, including expectstions of future. evp.ntg thxt arp. bÈliÈvÈd to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purpose8. Designated funds are unresth.cted funds eamiarked by the directors for particular fvture project or commitment. Restricted fund5 are subjected to re5triction5 on their expenditure declared by the donor or through the tems of an appeal. and fall into one of tsvo sub-classes: restricted income funds or endowment fvnds. 10 Hope and a Future Company Limited by Guarantee Notes to the Financial Statements (wJ*nued) Year ended 31 March 2023 Accounllng policies (Continued) In¢oming resources All Incoming resour¢es are included in the statement of financial activities when entitlement has passed to the charty., it is probable that the economie benefits associated the transaction will flow to the charity and the amount can be reliably measured. The followng specific policies are applied to parts'cular categones of income.. income from donations or grants is recognised when there is e¥idenGe of entitlement to the gfft, receipt is probable and rts amount can be measured reliably. 109acy income is recognised ￿en re¢eipt is probable and entttlcmcnt is cstablighed. income from donated g¢)ods is measured at the fair value of the g¢)ods unless this is impractical to measure reliabty, in which ¢a$8 the value is derived from the cost to the donor or Ihe estimated resale value. Donated fa¢ilities and services ale iecognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised viith the delivery of the contractgd sgrvice. Thi8 18 classified as unrestricted fvnds unless there is a contractual requirement for il to be syent ¢1 particular PUTpose and retumed if unspent, in which case rt may be regarded as restricted. Rosourcgs expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot bÈ fully recovered, and is classiffied under headings of the statement of financial activities to which it relates.. eX￿ndItUre on raising funds includes the eosts of all fundraising activittes. events, non